DOHA, Qatar – QatarEnergy has signed an agreement with ExxonMobil Canada to farm into an exploration license offshore Newfoundland and Labrador.
According to the agreement, QatarEnergy will hold a 40% participating interest in exploration license 1165A, where the Hampden exploration well activities are planned. The remaining interest is held by ExxonMobil Canada.
The block covered by this license is about 450 km (280 mi) east of St. John’s, Newfoundland and Labrador, in water depths of approximately 1,100 m (3,609 ft).
The transaction has received all necessary consents from the Canada-Newfoundland and Labrador Offshore Petroleum Board.